Preferred Bank (NASDAQ:PFBC) Issues Earnings Results

Preferred Bank (NASDAQ:PFBC) announced its quarterly earnings data on Monday. The bank reported $2.46 EPS for the quarter, beating the consensus estimate of $2.39 by $0.07, Yahoo Finance reports. The business had revenue of $132.88 million during the quarter, compared to analyst estimates of $68.80 million. Preferred Bank had a return on equity of 20.24% and a net margin of 27.35%. During the same quarter last year, the firm posted $2.71 earnings per share.

Preferred Bank Stock Up 3.4 %

NASDAQ:PFBC opened at $84.43 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $1.22 billion, a P/E ratio of 8.25 and a beta of 0.95. Preferred Bank has a fifty-two week low of $58.52 and a fifty-two week high of $91.67. The firm has a 50-day simple moving average of $80.38 and a two-hundred day simple moving average of $78.24.

Preferred Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Monday, October 7th. Preferred Bank’s payout ratio is 27.37%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PFBC. Stephens lifted their price target on shares of Preferred Bank from $90.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday. Piper Sandler boosted their price target on Preferred Bank from $88.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th.

About Preferred Bank

Preferred Bank provides various commercial banking products and services to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals, and high net worth individuals. The company accepts checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.